Chongqing Machinery & Electric to acquire smart manufacturing and equipment research units from parent

Chongqing Machinery & Electric (02722) signed an agreement with its parent to acquire 100% of a smart manufacturing company and an equipment research institute, while transferring its stakes in Qichi Transmission and a small-loan company to the parent. The net consideration is RMB 169 million paid by the parent in cash.

“2017年9月26日，公司与母公司签订股权转让协议，据此，公司所持綦齿传动100%的股权、公司及附属公司合计持有小贷公司45%的股权全部转让给母公司。”beta.zhitongcaijing.com

• 1 source
• beta.zhitongcaijing.com重庆机电(02722)获母公司置入智能制造公司及装备研究院Sep 26, 2017

Summarized from public sources; check the original articles before acting on it.